The EIU does surveys of the cost of living in major cities of the world. For years, Iran was the last and cheapest of the major cities. But last year, Iran was ranked 132nd of 134 cities and this year’s new ranking places Tehran in 130th place.
The ranking does not show what it costs an Iranian to live in Tehran. Rather the list is meant to show business executives what the relative costs are when they assign a foreign staffer to work in one of those 134 cities. The ranking is also useful for someone who may be thinking of retiring abroad and stretching their pension checks and savings further,
The tally compares cities with New York, where the cost of living is pegged at 100. The costs in other cities are calculated as a percentage of the cost in New York. Tehran was rated as 50 percent as expensive as New York last year and 55 percent as expensive this year.
The only major cities calculated to be cheaper than Tehran are Mumbai (53 percent of New York), Tunis (51 percent) and Karachi (46 percent).
Just above Tehran are New Delhi (56 percent), Jeddah (59 percent), and Algiers and Panama City, Panama (60 percent).
The places that will burn up your savings have long been in Japan and Europe. But now Australia has joined them as the Australian dollar has strengthened, meaning you get less when you convert US dollars.
The six most costly cities are: Tokyo (161 percent of New York), Oslo (156 percent), Osaka/Kobe (153 percent), Paris (150 percent), Zurich (148 percent) and Sydney (143 percent).
